All Forum Posts by: David Pearson

Hi all,

I've started to invest in the US last year, and am continuing this year. But, I'm also interested in investing in Mexico. Does anyone have any contact in Mexico? Or any real estate agent recommendations to get started?

Thanks! I appreciate the help.

David

@Caleb Brown Yes, they are all 5 conventional loan at 20% down.

@Caleb Brown They are buy and holds. I'm concerned that I'll pay a bit more in closing fee. Additionally, the market values of some of them are low (80-90k), so the interest rates are going to be higher (4-5%), but I assume that'd be the same if I was purchasing only one property.

Hi all,

I have an opportunity to buy 5 off-market properties at the same time from my real estate agent’s dad (with a discount). The deal looks good. My lender will be splitting all properties into 5 separate mortgages. Has anyone purchased multiple properties at the same time? Does anyone have any advice?

Thanks,

David

Hi BP.com,

I recently purchased my first out-of-state rental property in Illinois. I would like to invest in a 3-4 unit multi-family rental property as my next real estate investment and I have a hard time finding my next market.

I realized property taxes in Illinois are pretty high. I’d like to pick a new emerging market that is multi-family friendly. I did a lot of research online and found some hot markets but it’s difficult to pick one.

What would be your recommendations in that situation? There are so many “hot” real estate markets; how do you pick your market? Ideally, I’d like to pick one and invest in the same one over time.

Thank you!

David

Congratulations @Christine Villarosa ! Would you want to continue to invest in the real estate world? What do you love the most about real estate?

@Aaron Zimmerman @Basit Siddiqi Thank you both for your advices.

@Juan Solano

I purchased my first rental property out-of-state through Roofstock.com last year. I had a great experience working with them and going through the closing process.

They were responsive, and always ready to jump on a call to discuss anything from my dumb questions to recommendations.

For a fixed price of ~$900, they took care of the entire transaction coordination between my lender, title company and my property manager. They are acting as your realtor basically.

As mentioned already in this thread, they provide you with recommendations of property managers which helps you when you are out of state.

I wouldn’t completely trust all the maths on their website, nor documents on their platform. Like others said, make sure to do your maths, and proper due diligence. Most TK companies represent the sellers, not the buyers.

Hit me up if you need more details about my experience with Roofstock.

David

Hi Daniel,

I am also new in the real estate investment world. I purchased my first out-of-state rental property (SFH) at the end of last year. I can easily relate to the situation you are currently in.

Unfortunately, you have a lot of options on the table. Trying to make the perfect first decision in real estate is a mistake a lot of people are trying to make.

The most difficult part is going to start. You are on the right track, but it’s important you keep that in mind.

I don’t have a lot of experience in the markets you mentioned. I did purchased a rental property out of state and it went very smoothly. I used a marketplace called Roofstock.com instead of an agent. How they have helped me go through the entire process and how easy their platform has made myself feel good about my first purchase. I would highly recommend to start with finding a good realtor, or use a platform like roofstock.

I hope this gives you a little bit of insights. Feel free to reach out in private if you have any questions about my first experience!

Good luck!

David

Hey Bill,

I appreciate the thorough answer and advice. My assumptions are that filing your taxes isn't too complicated if you have done your homework and worked on your tax breaks, and paperwork throughout the year. Would you agree with this?

Also, what would be the best way to find a good tax strategist partner? I'll definitely reach out to you in private, but I also don't know where to start when looking for a financial partner.

Thank you for your response!

David